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Home > Education > Homework Help > Finance & Accounting   »   APR Calculation

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Old Nov 6, 2009, 09:54 AM
sandyas
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APR Calculation
1)      (8) The North Arctic Rangers Federation (NARF) bought a $32,500 car. The loan has monthly payments of $610.34 for 5 years.
a)      What is the interest rate (APR) on the loan?
b)      They just made the 15th payment. What is the outstanding balance on the loan?

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